2019-02-26-AC-min - Laserfiche WebLink

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02/26/2019 AC Minutes • Use of and additions to the Capital Stabilization Fund; • The impact of State prevailing wage laws on construction costs; • The need to manage growth in operating costs, recognizing that the school department represents approximately 70% of the total non-shared budget; • The need to prioritize and space out significant capital projects; • The use of free cash, particularly for operating expenses. Mr. Malloy reported that, in an effort to address long term consistency and reliability, he plans to draft some comprehensive and conservative fiscal policies with Ms. Kosnoff after the 2019 ATM. This Committee was supportive of having a brainstorming session to explore methods for addressing both operating and capital needs and to review current policies and practices to ensure practicable approaches to financing the Town's needs. May 15, 2019 was identified as the likely date for a potential post-ATM summit proposed by the Board of Selectmen to discuss policies on OPEB funding, the recognition of personal property"new growth," and taxation at the levy limit. AC Report to the ATM It was agreed to invite someone from the School Department to come and review the school budget before text on the school budget is prepared for this Committee's report to the ATM. Minutes It was noted that Ms. Arnold had distributed the February 21, 2019 draft minutes earlier in the day; they are still being reviewed. The meeting adjourned at 9:40 p.m. Respectfully submitted, Sara Arnold Approved: March 7, 2019 Exhibits • Agenda,posted by Mr. Parker, Chair • Summary of Discussion at 2/21/2019 Ad Hoc Crematory Study Committee Meeting RE: Westview Cemetery Building- Ad Hoc Committee Recommendations 2